Release Number 8631-22

CFTC Staff Issues Advisory on Non-U.S. Swap Dealer Chief Compliance Officer Annual Reports

December 02, 2022

— The Commodity Futures Trading Commission’s Market Participants Division today issued a staff advisory to non-U.S. swap dealers (SDs) that rely on a CFTC entity-level comparability determination (comparability determination) for purposes of complying with the chief compliance officer annual report (CCO Annual Report) filing required by CFTC Regulation 3.3.

The staff advisory reminds non-U.S. SDs of their obligation to comply with the terms of the relevant comparability determination by furnishing the CFTC with the annual compliance report that is required under the standards of their foreign jurisdiction. The advisory also reminds non-U.S. SDs that, in lieu of relying on an applicable comparability determination, they may choose instead to prepare, certify, and furnish to the CFTC a CCO Annual Report that is in full compliance with the content and delivery requirements of CFTC Regulations 3.3(e) and (f).